Investors with a lot of money to spend have taken a bullish stance on Marvell Tech MRVL.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MRVL, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 34%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $730,902, and 11 are calls, for a total amount of $671,543.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $62.5 and $90.0 for Marvell Tech, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Marvell Tech options trades today is 1198.2 with a total volume of 7,521.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Marvell Tech's big money trades within a strike price range of $62.5 to $90.0 over the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | TRADE | BULLISH | 08/30/24 | $2.32 | $2.28 | $2.32 | $72.00 | $275.6K | 4.4K | 1.2K |
| MRVL | PUT | SWEEP | BULLISH | 08/30/24 | $4.2 | $4.1 | $4.1 | $70.00 | $193.1K | 116 | 577 |
| MRVL | PUT | TRADE | BEARISH | 02/21/25 | $10.15 | $10.1 | $10.15 | $72.50 | $126.8K | 47 | 0 |
| MRVL | PUT | TRADE | BEARISH | 02/21/25 | $10.0 | $9.9 | $10.0 | $72.50 | $88.0K | 47 | 214 |
| MRVL | CALL | SWEEP | BEARISH | 08/23/24 | $1.14 | $1.11 | $1.11 | $70.00 | $68.3K | 1.9K | 2.9K |
About Marvell Tech
Marvell Technology is a fabless chip designer focused on wired networking, where it has the second-highest market share. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical and copper transceivers, switches, and storage controllers.
After a thorough review of the options trading surrounding Marvell Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Marvell Tech
- With a trading volume of 9,090,200, the price of MRVL is up by 2.42%, reaching $71.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 10 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Marvell Tech options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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